Friday, April 13, 2012

Forex trading review 4-13-12

A Friday the 13th appropriate update to my Forex trading...

EDIT: At the time this blog entry was posted I had a Youtube video here. That has been removed but I want the rest of my content to be remain. Nothing hidden no past mistakes ignored. All out in the open.

Well it was intended to be quick and then ended up being a 15 minute video.

Numbers wise, I am off to a terrible start but to be honest, I couldn't be happier. Well I would with profit lets be serious but in analyzing my first couple trades, I am doing the right things at the right times with the information I have in the moment of the trade. As I mention in the video, that will be the key to success. How can I be sure though? Lets look at other industries...

You have your professional athlete on any team sport. Baseball, Football, Soccer, Hockey, they are all the same. Yes an athlete can read the play book and memorize it but put them on the field in front of tens of thousands of viewers and the opposing team running at them and.... oops the other team scores.
The player then goes back to review recordings of their play and they can tell themselves they wont make the same mistake again. Next game they keep making the same mistake.

As traders and investors we will be put in front of a lot of potential oops moments. You can read all the technical analysis books from the safety of a comfortable chair and your favorite beverage. Will you remember that point of wisdom from chart 48-B on page 212? Or will you lose 5% of your account?

Disclaimer: The investments and trades in my videos and blog entries are not recommendations for others. I am not a financial planner, financial advisor, accountant, or tax adviser. The financial actions I talk about are for my own portfolio and money and only suited for my own risk tolerance, strategy, and ideas. Copying another person's financial moves can lead to large losses. Each person needs to do their due diligence in researching and planning their own actions in the financial markets.

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